Shanghai Tower Developer Casts a Wide Net

JLL, CBRE Group Are Chosen to Find Tenants

Facing the tough task of finding tenants amid an economic slowdown, the state-owned developer of Shanghai Tower, soon to be China's tallest building, has chosen JLL and CBRE Group Inc. to be its joint leasing agents.

State-owned developers in China typically don't hire outside brokerage firms, instead relying on in-house staff to market and lease space. The hiring of JLL and CBRE by the developer of Shanghai Tower reflects its desire...